Bungaejangter Strengthens Fraud Detection and Prevention Technology for Peer-to-Peer Transactions

S2W LAB and Technology Mutual Cooperation MOU

Seo Sang-deok, CEO of STW Lab (left), and Lee Dong-joo, Chief Technology Officer (CTO) of Bungaejangter, are signing a technology mutual cooperation MOU.

[Asia Economy Reporter Kim Cheol-hyun] Bungaejangter announced on the 21st that it has signed a "Technology Agreement to Strengthen Trust in Peer-to-Peer Transactions" with big data security specialist company S2W LAB.

S2W LAB is an artificial intelligence (AI) security company established in 2018, led by network security researchers from the Korea Advanced Institute of Science and Technology (KAIST). With technology that tracks and analyzes cyber threats, it holds numerous international papers and patents, and within two years of its founding, it has secured major domestic and international intelligence agencies such as Interpol and the Cyber Command as clients.

Through this business cooperation, Bungaejangter plans to apply the latest security technologies to secondhand transactions. Specifically, it will introduce technology to block sign-ups using personal information leaked through external channels, recognize and block fraud transaction inducement patterns based on AI, and promote detection, tracking of organized fraud crimes, and cooperation with investigative agencies.

Lee Dong-joo, Chief Technology Officer (CTO) of Bungaejangter, said, "Bungaejangter has been prioritizing efforts in technology development and cooperation as a way to strengthen trust in the increasingly expanding peer-to-peer transactions," adding, "By integrating S2W LAB's security technology and data analysis capabilities, we will solidify our position as a safe and reliable secondhand transaction platform."

This content was produced with the assistance of AI translation services.